Cap raise at 50c, page-27

A more immediate question would be where are the net $29.2 million proceeds of the capital raising held? In $A or in yuan?

I have sold out as I have no idea what is happening in China on existing projects. The answers to the ASX query a month ago said there had been delays in the orders for Shilongba and Xingyun. The update on 6 July mentioned the projects, but did not clarify what was happening. I therefore assume those projects are still on hold, with no information on when they may restart. That is despite there being no covid second wave in the south of China, which was the reason advanced for the delayed orders. It is all very strange.

I would also expect an accounting loss for the last half and the possibility of dropping out of the ASX 300 in September. I see no reason to buy until what is happening in China is clarified.